Reverse mortgage software provider ReverseVision is rolling out an education platform, ReverseVision University, to help educate present and future lenders on the reverse mortgage industry.
Courses within the platform will allow users to earn continuing education credits from the Nationwide Mortgage Licensing System (MNLS) and Certified Reverse Mortgage Professional Credits from the National Reverse Mortgage Lenders Association.
The platform is geared for industry growth based on improving demographics, and is will timed for lenders who are seeing less refinance business in a rising interest rate environment, ReverseVision says.
“RVU will be a fantastic tool for reverse mortgage professionals because it will serve several functions,” said Rachel Smith, product manager at ReverseVision. “We were repeatedly told how expensive and time-consuming it is to train new loan originators or anyone new to the industry. RVU will supplement the need for in-house, HECM-specific training for new staff and keep experienced staff up-to-date on recent changes. Compared to live training, RVU is more convenient and consistent, and far less expensive.”
The initial launch includes two courses: ReverseVision Fundamentals™ and ReverseVision Advanced Reverse Mortgage Executive Development™ (ARMED).
The two-hour fundamentals course covers laws and principles which comprise the HECM program, allowing current lenders to refresh their knowledge and new lenders to become acquainted with the program and its rules. The roughly half-hourlong ARMED course is geared toward mortgage executives and leaders to help direct strategic business decisions.
Additional courses are anticipated for release in the near future.
“We will continue to expand,” ReverseVision President John Button told RMD. “We have more than a dozen courses in mind.”
The courses are fee-based and are available for a year from the purchase date, with potential specials and company subscriptions, Button said.
“The addition of RVU continues to build our product offerings as well as provide the necessary tools for individuals to succeed in the reverse mortgage industry,” he said. “Our goal is not only to offer the best software for reverse mortgage loans, but also to be the source for the continuing education needed to accelerate one’s business.”
Written by Elizabeth Ecker